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Tuesday, July 15, 2014

Ind. Gov't. - "Porter County treasurer says he’ll step down" because of PERF changes

The ILB keeps hearing that PERF/TRF changes are leading to increased retirements throughout state and local agencies, plus schools. For background, start with this August 30, 2013 ILB post.

Here is a story yesterday by Amy Lavalley in the Gary Post-Tribune is illustrative. Some quotes:

VALPARAISO — Porter County officials from both parties praised Treasurer Mike Bucko, who announced Monday he is resigning from office, almost midway through his second term.

Citing his age — he will turn 70 at the end of next month — and changes in the Public Employee Retirement Fund which take effect Sept. 1, Bucko, a Democrat, decided it was time to resign.

He would lose an initial 4 percent out of his PERF and 11 percent annually if he were to remain in office until the end of his term. * * *

“I know with the changes in PERF it was very advantageous to retire,” said County Council President Dan Whitten, D-At-large. “He’s been knowledgeable and hard-working for the county. He’s given us some good years. I’m sorry to see him go.”

Posted by Marcia Oddi on July 15, 2014 09:27 AM
Posted to Indiana Government